Development Crossing

Corporate Social Responsibility (CSR) and Sustainability

In an announcement at Columbia University yesterday, Goldman Sachs said it would invest $100 million into educational projects over the next five years for the thousands of women entrepreneurs in developing countries who may lack the formal education, management skills and financial savvy to take their business to the next level.

Goldman is teaming up with a coalition of top business schools, including Wharton, Columbia, Harvard, and Thunderbird School of Global Management is teaming up with the American University of Afghanistan in Kabul to develop a certificate program and a training program for professors.

Read more in Business Week.

Views: 39

Comment by Lauren Miller on March 10, 2008 at 1:47pm
i like how this isn't a donation to feed people, but rather an investment for a future for these women. I wonder why it is only women being targeted, do the men in these countries have that high of education skills? It seems over and over, microlenders target women over men as well. I understand that in microlending, women have proven to return their money on time, and use it in a more responsible manner. But in the instance of education, I believe it should be an equal opportunity because there is essentially nothing to lose.
Comment by Thomas Bertrand on March 10, 2008 at 3:45pm
I would say that the focus on women is for several reasons. 1) it's one of the millenium development goals to promote gender equality and empower women, 2) like you said Lauren, microfinance companies have found that the repayment rates are much higher when dealing with women rather than men and spend it wiser, 3) women tend to work better together and in groups (I guess that's arguable), and in doing so will support each other and the repayments much better than men, 4) women play a very important role within the house (raising children, etc.), especially in developing nations, so improving their livelihoods can also trickle down to helping children better prepare for the future, etc. But I certainly agree, focusing on both men and women is key, i guess it's just that women are often ignored or less prioritized so this is a way of improving their role
Comment by Lauren Miller on March 10, 2008 at 4:03pm
you bring up some very valid points, and i agree with you that women do have a crucial role in children's education, and there for educating a mother is almost as good as educating all of her children. and you bring up a good point that women aren't on an equal status as men in most of these countries; perhaps once women and men are on equal ground in these countries the donanation's name will change from 10,000 women to 10,000 entrepreneurs.
Comment by Thomas Bertrand on March 10, 2008 at 4:04pm
well said
Comment by Dan Johnson on March 12, 2008 at 6:59pm
I believe GS should first cut the bonuses of the IBanker and senior executives. Ridiculous how much money they make. GS is just doing this so that high educated women will then join their company. Secure employees from very good schools. Suspicious.

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